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[–] everlastingphelps 1 point 1 point (+2|-1) ago 

1955 was still the gold standard. $35 an ounce. That means that a $1 deed was worth 0.028 oz of gold.

Gold is currently $1,733.80 an ounce. That makes the 0.028 oz worth $49.50 in current dollars, which is actually more than just notarizing now. The current $500 inspection would have cost (in gold) 0.288 oz, or $10 in 1955.

When you start thinking of things in gold, you will realize that most prices aren't going up (and a lot of things are going down) but rather, they are using inflation to make the dollars you have in your pocket worth less and make you run the rat race to constantly make more dollars. They want dollars to not be able to hold value, so you have an incentive to spend then right now rather than saving.

A car in 1955 cost around $1500 dollars. That's 42.85 oz of gold. At the current spot price, that's $74,305 worth of gold. See what I'm saying?

On the insurance front, it's not a bet. It's socialism. It's distributing the risk of something around to lots of people. It's not inherently bad when people are allowed to decide if they want to opt in. The problems come in when people either are forced into it by the state (auto insurance, mortgage regulations) or people are given it by someone else (employers buying health insurance.)

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[–] honk_atcha_boi ago 

That's not socialism. I really wish people would stop conflating government action and collective agreements as socialism. They're not. Socialism is communal control of the means of production, i.e, the strongest mob boss makes the profit and takes the goods.

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[–] Asgardener 0 points 4 points (+4|-0) ago 

There is a reason the amish refuse to pay any insurance- they consider it a form of gambling

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[–] JohnGoodman 0 points 3 points (+3|-0) ago 

And they don’t need it. In a homogenous white community, when someone suffers a major loss like their home, the community comes together and they all help out. That’s their insurance

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[–] AngryInVirginia ago 

A tip for people living in Virginia. Last time I checked there is a clause that allows you to drive without vehicle insurance. It is called the Uninsured Motorist Fee and is a fee that you can pay at the time of registration that allows you to drive the vehicle without insurance of any kind. Another tip for people living in certain parts of Virginia. Many people out there either do not have insurance or will drive away after hitting your vehicle and the police are not likely to do a damn thing about it.

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[–] ShadowHelp ago 

And then when they fuck up, we bail their ass out.

All these riots, shit getting burned down. Either we bail them out or they pass the cost onto us through increased premiums, which is essentially the same.

Meanwhile, my 66 year old co-worker who's underwater on his house just took out a $36,000 loan to buy a csr for 15 y/o daughter (2nd family). He says as long as he makes the first 6 payments, if he croaks the loan is forgiven. I smell a bailout coming.

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[–] ninjajunkie 0 points 1 point (+1|-0) ago 

It is a business based on only profiting if they do not provide the service you paid for.

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[–] AngryInVirginia ago 

I have not had a problem with insurance. You are correct about the prices but you may be incorrect about why the prices are the way that they are. Many of my peers seem to make this same mistake and it is a daily annoyance to me. I am tired of hearing them complain about the price of this or that back when we were younger but they will but a new computer or a new TV for a couple hundred dollars and not make a sound. I think that you will notice that it is not the parts that cost so much, it is the labor and overhead to have those parts installed. This goes for cars as well as houses.

Ever insurance claim that I have ever made in life has ended with cash in my hand. If I got into an automobile accident I would get an estimate from the dealership for the repair, my insurance company would cut me a check for the total of that estimate, I would purchase the parts and repair the vehicle myself, and then end up with extra cash in my hand that would usually be more than enough to cover the deductible. I have had similar experiences with homeowners insurance where I would operate as my own general contractor for any repairs and get not just reimbursed for the repairs but also a certain percentage of mandatory profit for the repairs.

I may just be one of the few lucky or unlucky sons of bitches who actually happened to have enough valid insurance claims that I have, over the course of my lifetime, received more money back than I have put in.

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[–] Monkeyshinerbot3000 1 point 10 points (+11|-1) ago 

It finally happened, someone woke up to the extortion racket that is insurance. I have been telling people for years that the entire industry was a sham.

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[–] Doglegwarrior 1 point 3 points (+4|-1) ago 

i hate insurance. it is absolutely horse shit. that being said i just wrecked the dodge viper i fixed up and ky insurance paid me basicaly exactly what it was worth and saved my ass.

so there is that. ive also had a couple roofs fixed because of hailstorms. you better use it and maximise it as much as possible if you do pay for the shit.

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